Question: When Nitrogen Media was acquired by General Electric s NBC Universal
When Nitrogen Media was acquired by General Electric's NBC Universal unit, Nitrogen's Vice President of Finance, Babs Grogan, was terminated as a Nitrogen employee, but hired by NBCU as an outside consultant. The term of Grogan's contract was three months, and her engagement with NBCU required her to assess business opportunities presented to NBCU, such as the financial value of newly created television shows. Grogan represented to NBCU that she had an MBA degree in finance and six years of experience in financial analysis. In fact, Grogan had falsified her academic record and possessed only an undergraduate degree in political science. In addition, she had no experience as a financial analyst, having delegated such work to coworkers for the past six years, although she took credit for their work. When NBCU asked Grogan to value the new TV show Car Shop, she delegated the task in part to a new MBA graduate, Roger Harvey, who was recently hired by NBCU and had virtually no on-the-job experience. As a result, Grogan and Harvey failed to perform a reasonable investigation into the facts regarding the TV show's value and to use appropriate valuations tools. Did Grogan and Harvey breach their fiduciary duty?
Answer to relevant QuestionsSheree Demming, a real estate investor, engaged Cheryl Underwood as a realtor to buy and sell properties on multiple occasions between July 2002 and April 2007. In 2002, Demming became particularly interested in purchasing ...Sally Leiner was the sole shareholder, director, and president of Ecco Bella, Inc., a New Jersey corporation.On various occasions, African Bio-Botanica, Inc., sold Leiner and/or Ecco Bella merchandise. African gave little ...You and four of your closest friends have decided to start a business that will purchase from banks and other financial institutions high-risk, subprime mortgage loans that are in default. You believe that you will be able ...New York law required that every taxicab company carry $10,000 of accident liability insurance for each cab in its fleet. The purpose of the law was to ensure that passengers and pedestrians injured by cabs operated by these ...Lillian Pritchard was a director of Pritchard & Baird Corporation, a business founded by her husband. After the death of her husband, her sons took control of the corporation. For two years, they looted the assets of the ...
Post your question